Michelin Shrugs Off Tire Struggles With Biggest Ever Buyback

Michelin plans to buy back as much as €2 billion ($2.4 billion) worth of shares, as the French company seeks to keep investors on side with its tire business under pressure.

The buyback, its biggest ever, will start this year and run until 2028, Michelin said Wednesday. The tiremaker will be flexible if it needs funding for larger transactions, Chief Financial Officer Yves Chapot said on a media call.